Nike and Marks & Spencer will completely leave the Russian market after the Russian invasion of Ukraine.
Nike has not extended its franchise agreement in Russia and has stopped supplying products to the Russian market. All branded stores will close after the stock is sold out.
The British brand Marks & Spencer also decided to leave Russia. The company stopped deliveries in March and has now decided to abandon the Russian franchise altogether.
The company cut off supplies to Russia in March, but said earlier that comprehensive franchise agreements did not allow it to withdraw from the business altogether, as about 50 stores were still operating.
After negotiations, the company said it was completely abandoning the Russian franchise.